EQUIVALENT. Of the same value. Sometimes a condition must be literally
accomplished in forma specifica; but some may be fulfilled by an equivalent,
per oequi polens, when such appears to be the intention of the parties; as,
I promise to pay you one hundred dollars, and then die, my executor may
fulfill my engagement; for it is equivalent to you whether the money be paid
to you b me or by him. Roll. Ab. 451; 1 Bouv. Inst. n. 760.

7704-1 (c) (3) clarifies that the fact that a partnership does not qualify for a safe harbor or that a transfer of an interest in the partnership is not within a safe harbor is disregarded in determining whether interests in the partnership are readily tradable on a secondary market or the substantial equivalent thereof.

Under existing rules, a convertible security is a common stock equivalent if at the time it is issued it has an effective yield of less than two-thirds of the current average Aa-rated corporate bond yield.

1060 applicable asset acquisition is allocated first to cash (Class I assets) on a dollar-for-dollar basis, then to cash equivalents (Class II assets), such as marketable securities, certificates of deposit, etc.

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